Stock fact sheet · data as of
Citizens & Northern Corporation (CZNC): fair value, margin of safety and Wheel Score
Financial Services · Banks - Regional · United States · High Yield Income
Is CZNC undervalued?
CZNC closed at 25.36 on 16 Oct 2026, 28% below the GLS average fair value of 35.25 from 9 models (4 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" rule of the Sunday Scan, and the Wheel Score gives it 24 of the 25 Value points.
The 9 models disagree widely: DCF gives 11.43 while Graham Growth gives 82.07. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files CZNC under High Yield Income: a dividend yield above 4%.
Nine valuation models for CZNC
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 11.43 | -55% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 25.15 | -1% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 82.07 | +224% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 35.87 | +41% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 12.96 | -49% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 57.96 | +129% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 59.36 | +134% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 16.48 | -35% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 15.94 | -37% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -153.03 | -703% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 23.50 | -7% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - CZNC passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 3.5 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC 4.4%, ROE 6.9%, ROA 0.7% - with debt at 0.56 times equity and a free-cash-flow yield of 9.9%.
The dividend yield is high at 4.42% (payout ratio 69%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Deposit Account 53%, Debit Card 41%, Bank Servicing 6% (quarter Q2 FY2026).
Institutional ownership scores 4/10, insider activity 7/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 4.4% |
|---|---|---|---|
| GLS Moat | 3.5 / 10 | ROE | 6.9% |
| Debt / equity | 0.56 | ROA | 0.7% |
| Free-cash-flow yield | 9.9% | Payout ratio | 69% |
| Institutions | 4 / 10 | Insiders · Congress | 7 · 5 / 10 |
Wheel Score 69: Good
CZNC scores 69 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 24/25), Piotroski health (13/20), the GLS moat (5/15), the option premium on offer (20/20) and how easily the stock trades (7/20). Moat (5/15) is the part holding the score back.
Implied volatility is 44% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 191 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 51k shares a day on a market cap of $455M, with a beta of 0.40 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 7 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 24 / 25 | 28% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 5 / 15 | moat 3.5/10 | |
| Premium | 20 / 20 | implied volatility 44% | |
| Stability | 7 / 20 | 51k shares/day, $455M cap, beta 0.40 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Citizens & Northern Corporation reports earnings on 22 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Citizens & Northern Corporation by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| FRBA First Bank | 17.73 | 33.32 | +47% | 79Good | $439M |
| PBFS Pioneer Bancorp, Inc. | 17.61 | 12.50 | -41% | 27No options | $437M |
| AVBC Avidia Bancorp, Inc. | 21.83 | 23.04 | +5% | 64Fair | $436M |
| CBK Commercial Bancgroup, Inc. Common Stock | 31.49 | 33.66 | +6% | 39No options | $431M |
| RBB RBB Bancorp | 25.49 | 30.43 | +16% | 68Good | $431M |
| PDLB Ponce Financial Group, Inc. | 19.95 | 48.40 | +59% | 79Good | $483M |
| PLBC Plumas Bancorp | 61.59 | 72.05 | +15% | 39No options | $429M |
| PBAM Private Bancorp of America, Inc. | 84.35 | 133.28 | +37% | 39No options | $483M |
| WTBA West Bancorporation, Inc. | 28.35 | 31.49 | +10% | 64Fair | $483M |
| FMAO Farmers & Merchants Bancorp, Inc. | 35.12 | 33.94 | -3% | 63Fair | $484M |
| BMRC Bank of Marin Bancorp | 26.39 | 51.78 | +49% | 72Good | $427M |
| CBAN Colony Bankcorp, Inc. | 20.03 | 26.80 | +25% | 65Good | $425M |
⚖ Compare CZNC with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about CZNC
Is CZNC undervalued right now?
By the GLS models, moderately: at 25.36 the stock trades 28% below the average fair value of 35.25 (data as of 16 Oct 2026).
What is the Wheel Score of CZNC and what does it mean?
CZNC scores 69 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for CZNC?
35.25 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Citizens & Northern Corporation report earnings next?
The next earnings report is due on 22 Oct 2026 (after the close), 6 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does CZNC have listed options, and how liquid are they?
Yes. The nightly snapshot found 74 listed contracts with 191 open interest across all expiries and implied volatility of 44% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.